Nuveen Asset Management LLC Increases Position in Pebblebrook Hotel Trust (NYSE:PEB)

Nuveen Asset Management LLC raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 82.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,345,333 shares of the real estate investment trust’s stock after purchasing an additional 1,058,664 shares during the quarter. Nuveen Asset Management LLC owned 1.96% of Pebblebrook Hotel Trust worth $31,779,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pebblebrook Hotel Trust by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,927 shares of the real estate investment trust’s stock worth $920,000 after purchasing an additional 2,341 shares during the period. LMR Partners LLP purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth about $3,049,000. Jefferies Financial Group Inc. purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth about $8,993,000. Crestline Management LP purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth about $1,846,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth about $361,000.

Pebblebrook Hotel Trust Trading Down 5.2%

NYSE:PEB opened at $9.13 on Thursday. The stock has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $11.82. The stock has a market cap of $1.08 billion, a P/E ratio of -31.46, a P/E/G ratio of 0.60 and a beta of 1.80. Pebblebrook Hotel Trust has a 1 year low of $7.41 and a 1 year high of $15.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $320.27 million during the quarter, compared to analysts’ expectations of $311.74 million. Pebblebrook Hotel Trust had a return on equity of 0.13% and a net margin of 0.25%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, analysts anticipate that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, March 31st. Pebblebrook Hotel Trust’s payout ratio is -8.33%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Raymond James set a $14.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Evercore ISI cut their price objective on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company cut their price objective on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Wedbush set a $9.00 price objective on Pebblebrook Hotel Trust and gave the stock an “underperform” rating in a research report on Tuesday, May 6th. Finally, Compass Point lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and cut their target price for the stock from $17.00 to $15.00 in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.78.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.